The U.S. electric vehicle market showed signs of recovery in the third quarter this year, posting the highest sales in a year. The market, which had shrunk after the end of a federal tax credit last year, appears to be gradually regaining stability.

Electrek reported on Oct. 12 that market research firm Cox Automotive put U.S. third-quarter EV sales at 266,630 units. That was up 7.7 percent from the previous quarter and the highest level since the third quarter of 2025.

Sales were down 38.6 percent from a year earlier, however. Demand had been pulled forward ahead of the end of a federal EV tax credit of up to $7,500 (about 10,012,500 won) at the end of September last year.

EVs accounted for 6.5 percent of all new-car sales, up 0.7 percentage points from 5.8 percent in the second quarter. Stephanie Valdez Streaty (스테파니 발데즈 스트리티), insights director at Cox Automotive, said, "Most of the market readjustment phase following the end of the tax credit has passed."

In cumulative sales from January to September this year, Tesla maintained an overwhelming lead. The Model Y ranked No. 1 overall with 262,491 units, and the Model 3 took second with 106,962. Their market shares stood at 36.0 percent and 14.7 percent, respectively.

Among non-Tesla EVs, Hyundai Motor's Ioniq 5 sold the most with 31,112 units and ranked third overall. Toyota's bZ followed with 24,944 units in fourth. Ranks 5 to 7 were Chevrolet Equinox EV (18,154 units), Rivian R1S (17,259), and Ford Mustang Mach-E (17,206). Rivian EDV, Honda Prologue and Kia EV9 made the top 10 in eighth to 10th place.

By brand, third-quarter sales growth rates were 328 percent for Toyota, 442 percent for Lexus, 46 percent for Rivian and 31 percent for Subaru.

Cox Automotive said future growth in the EV market depends on factors that will drive consumer switching, including new products' competitiveness and pricing.